Service Overview
Commercial bonds represent a broad range of bond types that do not fit the classification of contract bonds. They are generally divided into four sub-types:
- License and Permit Bonds
- Court Bonds
- Public Official Bonds
- Miscellaneous Bonds
License and Permit Bonds
License and permit bonds are required by certain federal, state, or municipal governments as a prerequisite for receiving a license or permit to engage in specific business activities.
These bonds function as a guarantee from a surety to a government and its constituents (Obligee) that a company (Principal) will comply with an underlying statute, state law, municipal ordinance, or regulation.
Other Commercial Bond Sub-Types
- Court Bonds: Bonds prescribed by statute and related to the courts. Judicial bonds and fiduciary bonds are common court bond types.
- Public Official Bonds: Bonds that guarantee the honesty and faithful performance of individuals elected or appointed to positions of public trust.
- Miscellaneous Bonds: Bonds that do not fit neatly into other commercial surety classifications and often support private relationships and unique business obligations.
Common License and Permit Bond Examples
A Better Surety can help with a wide range of license and permit bond needs, including:
- ARC Bonds
- Contractor License Bonds
- DMV Dealer Bonds
- Freight Broker Bonds
- And many more
How A Better Surety Helps
We help businesses identify the exact bond required, prepare the right information for underwriting, and secure the bond quickly so licensing and operations can stay on schedule.